Surf puts brightness on the line ... when the waves are in surf’s up. There’s no doubt that the word surf has cheerful implications. Surf now happens to also be the name of the new Sygnia umbrella retirement fund, though given the autocratic reputation of Sygnia CEO Magda Wierzycka, maybe the Serf Fund would have been more appropriate.It is not brand new: it was originally the Sechaba Umbrella Fund, which Sygnia acquired when it bought the Gallet Group in February. Sygnia has ambitions for Surf to take on the big five umbrella funds in SA — Old Mutual, Sanlam, Liberty, Momentum and, most of all, Alexander Forbes. Surf has about 7,500 members compared with more than 300,000 at the Alexander Forbes Retirement Fund.For those who consider Wierzycka to be a bit too, let’s say, showbiz, it was important to give the fund a couple of serious-looking frontmen. Sygnia hooked two big fish from Forbes — David Hufton, who was the national head of institutional consulting, and John Anderson, the ...
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